HONG KONG-- New York Life Insurance Company announced today that Joseph Gilmour, 48, executive vice president and chief financial officer of New York Life International, the company's overseas arm with operations in nine markets, will succeed Gary G. Benanav, 58, as chief executive of New York Life International effective March 1, 2005. At that time Mr. Gilmour will become president and CEO of International, and Mr. Benanav will remain chairman until March 1, 2006.
Sy Sternberg, chairman and CEO of New York Life, said, ''Last year we were fortunate to attract Joe Gilmour, a seasoned international executive, to serve as CFO of our International operations. Gary Benanav and I are confident that Joe will continue to build the momentum for our business outside the United States as president and CEO of International. As for Gary, he has been a major force in establishing New York Life International as one of the leading brands in Asia and Latin America. I'm pleased that Gary will remain chairman of International for a time to assist with the transition.''
Mr. Gilmour joined New York Life International in August 2003 as executive vice president and chief financial officer. He was previously with Canada Life, where he worked for the majority of his 25 year career. In his last five years with Canada Life, Mr. Gilmour served as senior vice president of the International and Reinsurance Division. In that role he was responsible for the management and development of Canada Life's international holdings and reinsurance operations. Mr. Gilmour's career with Canada Life also included senior roles in group life insurance and pension, strategic planning, mergers and acquisitions, and product development.
New York Life International offers insurance products through its subsidiaries and affiliates in Hong Kong, India, Mexico, the Philippines, South Korea, Taiwan, Thailand, Argentina, and China. The company maintains a representative office in Hanoi, Vietnam.
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